Despite the soothing hot air from the White House and Fed officials, the financial system is becoming increasingly fragile and unstable. Maybe all of that intervention the past decade was not wise.
In 1948, Ludwig Erhardt rescued a German economy that was in shambles simply by invoking free markets and currency reform. Our economy needs its Rothbard moment.
People from socially and economically marginized groups in the USA tend to support socialism. Yet socialists have a long and bloody history of suppressing these very groups.
Should political reform be the result of a much-discussed comprehensive plan? Or should it come about through decentralized decision-making that deals with the situations at hand?
By any conventional measures of finance, the Federal Reserve has negative equity. In the long run, cooking the books only puts off the day of reckoning.
